Mexico City/Dallas, TX, April 26, 2023 – Redwings S.A. De C.V. (“Redwings”) has signed a nonbinding Letter of Intent with Jaunt Air Mobility LLC (“Jaunt”) to purchase Jaunt Journey electric vertical takeoff and landing (eVTOL) aircraft and launch a strategic collaboration in Mexico. Jaunt plans to support Redwings in its launch of an air taxi service in urban markets beginning with Mexico City.

“The elevation of Mexico City at 7,349 feet is higher than Denver, Colorado, and presents challenges for many VTOL aircraft operating at this altitude,” says Bernardo Moreno, President of Redwings. “The Journey’s highly efficient vertical flight capability enables this aircraft to operate at altitude with no performance limitations.” “We are excited to work with an outstanding team at Redwings to bring urban air mobility to cities in Mexico,” says Simon Briceno, Chief Commercial Officer for Jaunt. “Our Jaunt Journey’s exceptional main rotor technology with low rotor disc loading and tip speeds will provide Redwings with high efficiencies in vertical flight at high altitudes.” For more than a decade, Redwings has operated a fleet of aircraft and helicopters throughout the Americas and Europe, and it seeks a safe, low-carbon footprint, high-speed air transportation system for passengers and cargo. Redwings intends to purchase ten Jaunt Journey aircraft with an option to purchase an additional ten units. “After researching many eVTOL aircraft, the Jaunt Journey offers the safest aircraft with low operational costs and, of course, the performance needed,” states Moreno. “We will collaborate on operations, passenger experience, infrastructure, and market education.” Jaunt Air Mobility, headquartered in Dallas, Texas, is developing and certifying the Jaunt Journey in Canada. These piloted aircraft will provide an affordable mode of transit for four passengers to commute in and around urban areas. In addition, the Jaunt Journey aircraft will be able to transport cargo with its unique reconfigurable design and be used for emergency services. The Journey’s patented Slowed-Rotor Compound technology offers a significant safety advantage allowing the aircraft to autorotate or glide to the ground in a controlled manner under a complete power loss. As an all-electric aircraft, the Journey will produce zero emissions and be extremely quiet. Committed to sustainable values and environmental practices, Jaunt will utilize clean manufacturing, minimizing energy and materials, and Jaunt anticipates that the aircraft will be over 90% recyclable at the end of its life-cycle. “Jaunt now has customers throughout the Americas, Europe, and Asia. At the end of the day, we are highly confident in the Journey’s operational capabilities and our path to certification,” says Briceno. About Redwings Redwings has established itself in executive aviation as the most innovative company in Mexico. It offers smart solutions with three business units: FBO, with the most luxurious private aviation terminal within the Querétaro Airport; JETS, with more than 40,000 hours flown to destinations in America, Europe, Africa, and Asia, under Wyvern certification; and MRO, with their aeronautical workshop under the certification of the Mexican authority and repair station FAA, EMB135 and ERJ145.  About Jaunt Jaunt Air Mobility is a transformative aerospace company headquartered in Dallas, Texas, with design and manufacturing located in Montreal, Canada. Jaunt is building the next generation of eVTOL (electric Vertical Takeoff and Landing) and hybrid-electric VTOL aircraft for faster, quieter, and safer travel over urban areas, moving people and cargo. Jaunt is the global leader in developing Slowed Rotor Compound (SRC) technology. Jaunt has teamed with Tier 1 aerospace partners to develop the Journey and work with global operators to provide this new form of travel. Jaunt offers an operationally efficient aircraft with a zero-carbon footprint. Jaunt is a recognized global brand of AIRO Group Holdings, Inc. (“AIRO”). AIRO is a mid-tier aerospace and defense company offering industry-leading technology and services in electric air mobility, advanced avionics, uncrewed air systems, and training uniquely capable of addressing a broad spectrum of aerospace markets. For more information, visit www.jauntairmobility.com and www.theairogroup.com. Contact: Nancy Richardson, Jaunt Air Mobility, nmrichardson@jauntairmobility.com, 610-952-2595